Flowserve Co. (NYSE:FLS) Receives $64.40 Consensus Price Target from Analysts

by · The Cerbat Gem

Flowserve Co. (NYSE:FLS – Get Free Report) has been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $64.40.

A number of brokerages have recently weighed in on FLS. Stifel Nicolaus increased their price target on Flowserve from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Citigroup raised their target price on Flowserve from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Mizuho upped their price target on shares of Flowserve from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Royal Bank of Canada upgraded shares of Flowserve from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $57.00 to $69.00 in a research report on Friday, November 22nd. Finally, Jefferies Financial Group began coverage on shares of Flowserve in a research report on Friday, October 18th. They issued a “buy” rating and a $65.00 target price for the company.

Check Out Our Latest Report on Flowserve

Flowserve Price Performance

Shares of NYSE FLS opened at $58.45 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.41. Flowserve has a twelve month low of $39.21 and a twelve month high of $62.32. The business has a 50 day simple moving average of $58.26 and a 200-day simple moving average of $52.11.

Flowserve (NYSE:FLS – Get Free Report) last issued its earnings results on Monday, October 28th. The industrial products company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.05). Flowserve had a return on equity of 17.10% and a net margin of 5.90%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $0.50 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. As a group, equities research analysts expect that Flowserve will post 2.71 earnings per share for the current year.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Friday, December 27th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Friday, December 27th. Flowserve’s dividend payout ratio is presently 41.58%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC acquired a new position in shares of Flowserve in the 2nd quarter worth approximately $187,000. Hennessy Advisors Inc. boosted its holdings in Flowserve by 18.1% during the second quarter. Hennessy Advisors Inc. now owns 729,600 shares of the industrial products company’s stock worth $35,094,000 after buying an additional 111,700 shares in the last quarter. Bailard Inc. grew its position in Flowserve by 9.5% in the second quarter. Bailard Inc. now owns 12,095 shares of the industrial products company’s stock worth $582,000 after buying an additional 1,050 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Flowserve by 41.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 7,141 shares of the industrial products company’s stock valued at $343,000 after buying an additional 2,107 shares in the last quarter. Finally, ABLE Financial Group LLC lifted its position in shares of Flowserve by 3.5% during the 2nd quarter. ABLE Financial Group LLC now owns 16,087 shares of the industrial products company’s stock valued at $774,000 after acquiring an additional 547 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Flowserve Company Profile

(Get Free Report

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.

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